Entrepreneurship is Popular for the Young At Heart

Though many young entrepreneurs gain attention and even celebrity status in today’s business culture, entrepreneurship isn’t necessarily a trait reserved for the younger generations. A recent report from USA Today found that more older Americans are now taking initiative and starting their own businesses.

Citing figures from the Kauffman Foundation, the paper says that between 2008 and 2009, the second-largest jump in entrepreneurial activity took place among people aged 55 to 64.

The reasons behind the small business boom among the older set could be varied, but Kauffman’s vice president of research and policy Robert Litan said it may have to do with reaching certain birthdays. “These milestones do hit people squarely over the head,” he told the paper. “It’s the workforce equivalent of a midlife crisis.”

Those thinking about becoming entrepreneurs at an older age can find help from a wide range of resources. The paper suggests checking the Small Business Administration’s “50+” page, as well as learning from peers and taking advantage of social networking.

Kauffman’s recently released Index of Entrepreneurial Activity showed significant increases in entrepreneurial activity, regardless of age. The study found that the number of new businesses created last year was the highest it had been in 14 years.